RBNZ Governor Orr's press conference following the Bank's policy statement earlier. rise in OCR track is not forward guidance, not a strong signal out the Bank's next movewary about too much on ratesis encouraged to see inflation fallinflation is still too highthe...
ForexLive Asia-Pacific FX news wrap: RBNZ leaves cash rate at 5.5%, as expected
The focus of the session was on the Reserve Bank of New Zealand monetary policy decision. The Bank left its cash rate unchanged for the second meeting in a row, as was almost unanimously expected. While on central banks, the People’s Bank of China fixing of the...
More from the RBNZ: Estimate of nominal neural cash rate has increased 25bp
Minutes from the Reserve Bank of New Zealand meeting: Committee noted inflation is still expected to decline within the target band by the second half of 2024Committee agreed that the risks around the inflation projection remain balancedCommittee noted that the...
NZD/USD a few points higher after the RBNZ statement says rates to stay high for some time
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China’s Zhongrong misses dozens of payments as fallout spreads
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China House Prices in July fell m/m and y/y
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PBOC sets USD/ CNY reference rate for today at 7.1986 (vs. estimate at 7.2878)
People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.CNH is the offshore yuan. USD /CNH has no restrictions on its trading...
Reserve Bank of New Zealand statement due soon – previews ICYMI
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Australia data – twelfth consecutive negative print for the Leading Index growth rate
Westpc's main points:Leading Index growth rate lifts slightly to –0.6% in July from -0.67% in June. Twelfth month of negative prints, longest run in seven years (ex-COVID). Below-trend growth momentum set to extend into 2024. Some support from resilient labour market...
PBOC is expected to set the USD/CNY reference rate at 7.2878 – Reuters estimate
People's Bank of China USD/CNY reference rate is due around 0115 GMT.The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate...
DeDollarization? Nope, says BRICS guy. Bloc’s plans for a common currency are “ridiculous”
Lord Jim O'Neill is a former Goldman Sachs economist who first gave the BRICS bloc its name. He spoke with the Financial Times in an interview.says the bloc's plans for a common currency are ridiculousrejected the possibility of the group of countries challenging the...
Wells Fargo see firming US inflation in the second half of 2023, FOMC to hike rates
Wells Fargo Investment Institute has boosted its forecast for Fed Funds, citing “Our expectations for firming inflation in the second half of 2023 and sustained weakening trends in the U.S. economy lead us to revise our U.S. economic forecasts to predict somewhat...
Japan data – Reuters Tankan shows Large Manufacturing and Non-manufacturing sentiment rise
Reuters Tankan data results:Large Manufacturing sentiment index +12 in August vs. +3 in Julyseen at +14 in 3 monthNon-manufacturing to +32 in August from +23 in Julyfirst rise for this in 3 monthsseen at +26 in 3 monthsSnippets from the Reuters report:"Declines in...
Danske see USD/JPY intervention likely – Japan’s MoF to hold it circa 145-148
This summary is via the folks at eFX. For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here. Danske Bank provides its view on USD/JPY. Key Highlights: 1. Recent Movement...
JP Morgan slashed their China GDP forecast following the ugly data this week
Bloomberg (gated) noted downgraded China economic growth forecasts from analysts following the weak data results. Yesterday we had this:The People's Bank of China cut rates yesterday also:China's official GDP target is around 5% (Yes, "around" 5% is the official...
US-based analyst sees year end S&P 500 as high as 4850
A beefed up equity market forecast via a note from Jefferies Group, a US investment bank/financial services company headquartered in New York City.In summary, the equity researchers boosted their year-end target for the benchmark index, citing easing inflation,...
Reserve Bank of New Zealand meet Wednesday – on hold decision expected – preview
The RBNZ statement is due at at 2pm New Zealand time on Wednesday, 16 August 2023 0200 GMT and 10pm US Eastern time (on Tuesday, 15 August 2023) RBNZ Governor Orr's press conference will follow an hour later"On hold" is near enough to being unanimously expected. Eyes...
Private oil survey data shows much larger headline crude draw than was expected
The inventory data from the private survey is out now, official data follows Wed. morning (US time).Via Twitter: --Expectations I had seen centred on:Headline crude -2.3mn barrelsDistillates -0.5 mn bblsGasoline -1.3 mn--This data point is from a privately-conducted...
Economic calendar in Asia on Wednesday, 16 August 2023 – Reserve Bank of New Zealand day!
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Trade ideas thread – Wednesday, 16 August 2023
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